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CORPORATE AFTERSHOCK 2 PHẦN 8

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Phần kết luận LUSION nền tảng thích hợp cho loại hình kinh doanh này là một trong nắm bắt được cả hai lợi thế môi trường của tư nhân và Unrated cũng như cấu hình hoạt động cần thiết để có nguồn gốc, phân tích, và các giao dịch cơ cấu tín dụng trong nhà. | THE MARKET FOR COMPLEX CREDIT RISK 261 CONCLUSION The appropriate platform for this type of business is one that captures both the environmental advantages of being privately held and unrated as well as the operational configuration necessary to originate analyze and structure credit transactions in-house. From such a platform customized credit risk solutions may be provided to global financial institutions and industrial companies and thereby originate assets directly from these institutions instead of from investment banks. With this configuration such a firm may use its structuring skills and proprietary analytics to purchase certain classes of credit risk from its clientele and transform these risks into a format palatable to its institutional investors creating thereby a new asset class for them to invest in. Worldwide demographic trends new political realities and globalization have conspired to make investment management more complex and risky. Across the globe retirement schemes are being outsourced or privatized resulting in a greater supply of funds chasing finite quality opportunities. While regulators boards and the market are placing an increased emphasis on risk management the clients of professional investment managers are demanding better performance stable and higher yields . Increasingly asset managers will be more focused and will have to acquire deep expertise in the sectors they focus on. The credit risk sector offers significant growth and superior returns but requires substantial credit expertise focus and a deep credit culture. These qualities are not found in typical institutional investors or traditional asset managers. In the main the popularity of the credit risk market with these entities is due to higher yields that are available in this market not a sudden inheritance of credit risk management skills by institutional investors. The recent misfortunes of American Express and other institutions evidence what happens eventually to market